Land transaction permit zones for foreign buyers extended by 1 year — from August 26 to August 25, 2027, covering all of Seoul, 23 cities and counties in Gyeonggi and 9 districts in Incheon
Source material is a Korean government announcement (in Korean).
The land transaction permit zone designation applied to housing acquisition by foreigners is extended by 1 year, from August 26 to August 25, 2027, covering all of Seoul, 23 cities and counties in Gyeonggi and 9 autonomous districts in Incheon.
Key facts
| Period | August 26 – August 25, 2027 (extended by 1 year) |
|---|---|
| Areas covered | All of Seoul / 23 cities and counties in Gyeonggi (excluding Yangju, Icheon, Uijeongbu, Dongducheon, Yangpyeong, Yeoju, Gapyeong and Yeoncheon) / 9 autonomous districts in Incheon (Michuhol, Yeonsu, Namdong, Bupyeong, Gyeyang, Seohae, Geomdan, Yeongjong and Jemulpo) |
| Transactions subject to permission | Detached, multi-household, multiplex, row houses and apartments |
| Size threshold | Over 6㎡ in residential zones, over 15㎡ in commercial zones (unchanged) |
| Change to the designated scope | Same as the scope designated last August, reflecting the administrative district reorganization of Incheon in July this year |
| Responsible offices | Ministry of Land, Infrastructure and Transport, Land Policy Division (044-201-4146); Real Estate Consumer Protection Planning Group (044-201-3606) |
Last checked:
The Ministry of Land, Infrastructure and Transport announced on the 20th that it is extending by 1 year, from August 26 to August 25, 2027, the designation period of the land transaction permit zones (토지거래허가구역) designated last August to manage housing acquisition by foreigners. The scope of the permit zones is the same as the scope designated last August, reflecting only the administrative district reorganization of Incheon in July this year. The areas covered are all of Seoul; 23 cities and counties in Gyeonggi Province (excluding Yangju, Icheon, Uijeongbu, Dongducheon, Yangpyeong, Yeoju, Gapyeong and Yeoncheon); and 9 autonomous districts in Incheon (Michuhol, Yeonsu, Namdong, Bupyeong, Gyeyang, Seohae, Geomdan, Yeongjong and Jemulpo). Transactions subject to permission are those of detached houses, multi-household houses, multiplex houses, row houses and apartments in those areas, and the size threshold remains the same as before: transactions exceeding 6㎡ in residential zones and 15㎡ in commercial zones.
Background — why this change
According to the Ministry of Land, Infrastructure and Transport, the number of homes held by foreigners nationwide has risen every year since 2022, increasing by about 30% over the past 3 years. However, from September last year, while the land transaction permit zones were designated, through June this year, the number of housing transactions by foreigners in the Seoul metropolitan area was 4,397, down 27% from 6,024 in the same period a year earlier; transactions in the 3 Gangnam-area districts of Gangnam, Seocho and Songpa and in Yongsan-gu fell 49%, with Seocho-gu down 73%, the largest decline. Over the same period, housing transactions by foreigners in the Seoul metropolitan area broke down by region as Gyeonggi 66%, Seoul 17% and Incheon 17%, and by nationality as China 72% and the United States 13%. Transactions with a value of 600 million won or less accounted for 81%, while apartments and multiplex houses accounted for 62% and 33% respectively.
Summaries below are factual notes based on government announcements and primary sources — not evaluations or opinions.
FAQ
Which areas are permit zones?
All of Seoul; in Gyeonggi Province, the 23 cities and counties other than Yangju, Icheon, Uijeongbu, Dongducheon, Yangpyeong, Yeoju, Gapyeong and Yeoncheon; and in Incheon, the 9 autonomous districts of Michuhol, Yeonsu, Namdong, Bupyeong, Gyeyang, Seohae, Geomdan, Yeongjong and Jemulpo.
Which transactions require permission?
Transactions of detached, multi-household, multiplex, row houses and apartments in those areas, with a size threshold of over 6㎡ in residential zones and over 15㎡ in commercial zones.
How long does the designation last?
1 year, from August 26 to August 25, 2027.